LONDON (ShareCast) - UBS (Xetra: UB0BL6 - news) has raised its target price for Reed Elsevier (LSE: REL.L - news) from 770p to 790p and reiterated its 'buy' rating for the stock ahead of the publishing and exhibitions group's full-year results later this month.
The broker said that cash returns are "accelerating" and there could be an announcement of an ongoing buy-back programme of up to £400m per annum to maintain leverage.
High Street (BSE: HIGHSTREE.BO - news) betting shop Ladbrokes (LSE: LAD.L - news) was performing well on Tuesday morning, with shares given a boost by Investec (LSE: INVP.L - news) which raised its rating for the stock from 'hold' to 'buy'.
"Ladbrokes is due to complete the roll out its new online sportsbook in Q1 and, compounded by internally generated trading improvements, the outlook in both retail and digital is promising," said analyst James Hollins.
Nomura has resumed coverage of soft drinks group Britvic (Other OTC: BTVCF - news) with a 'buy' rating, saying it sees upside from US franchising if the Fruit Shoot brand becomes as big in the States as it is in the UK.
"With a roll-out now underway in 30 states, we have now the confidence to factor in some value from this (30p per share) into our target price."